OPEC official: Iraq OPEC quota not needed for few years

OPEC Secretary General, Abdullah AL Badry announced that it will be four to five years before there is a need to include Iraqi oil output within OPEC’s oil production policy.

“When they reach the point that they have to be accommodated, maybe it will not be for four to five years from now” said Al Badry.

That came during an oil conference, where Al Badry added “At the end of the day Iraq is a founder member, and I’m sure a solution will be found.”

Iraq strengthened its hand for future negotiations on output quotas with OPEC through signing a number of deals with international oil companies.


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